Cap. 1015 - Financial Secretary Incorporation Ordinance

To provide for the incorporation of the Financial Secretary under the title of The Financial Secretary Incorporated. (Replaced 33 of 1939; G.N. 840 of 1940 Supp. Schedule. Amended L.N. 180 of 1985) [17 October 1930](Format changes—E.R. 4 of 2022) 1. Short title This Ordinance may be cited as the Financial Secretary Incorporation Ordinance.(Amended L.N. 180 of 1985) 2. Incorporation of the Financial Secretary, and powers The person for the time being performing the duties of the office of Financial Secretary shall be a corporation sole, hereinafter called the corporation, and shall have the name of “The Financial Secretary Incorporated”, and by that name shall have perpetual succession, with a capacity to acquire, whether as purchaser, mortgagee or otherwise, and hold in that name lands, government securities, shares in any private or public company, debentures, stocks, funds, securities for money and real and personal property of every description, to grant, sell, convey, assign, surrender, exchange, partition, yield up, mortgage, demise, reconvey, reassign, transfer or otherwise deal with and dispose of any property of any nature whatsoever, to execute deeds, using an official seal, to enter into engagements binding on himself and his successors in office and to do all other acts necessary or expedient to be done in the execution of the duties of his office.(Amended 33 of 1939; G.N. 840 of 1940 Supp. Schedule; 18 of 1957 Third Schedule; 2 of 1965 s. 2; L.N. 180 of 1985)[cf. 1876 c. 18 s. 1 U.K.] 3. Property and rights transferred to corporation to vest or remain vested in corporation and not to pass to personal representative of occupant Notwithstanding any change in the occupant of the corporation, whether on account of death, departure on leave, return from leave, temporary employment elsewhere, resumption of duties, new appointment or other cause whatsoever, and notwithstanding the nature of the property or rights, all property and rights whatsoever, transferred to the corporation, or to any occupant of the corporation as such, in any manner whatsoever, shall vest or remain vested in the corporation so as to be capable of being dealt with by the occupant of the corporation for the time being and shall not vest in any occupant in his natural or personal capacity or pass to the personal representative of any occupant. 4. Power of Financial Secretary to delegate powers The occupant of the corporation for the time being may in writing delegate to any public officer, either generally or for any particular occasion and by name or by reference to a public office, such of his powers and functions under this Ordinance as he considers necessary (except this power of delegation).(Added 2 of 1965 s. 3) 5. Deeds, etc., to be receivable in evidence Any deed purporting to be sealed with the said official seal and to be signed by or on behalf of the occupant of the corporation for the time being, and any other documents, instruments and writings purporting to be so signed, shall be receivable in evidence of the particulars stated in such document.(Amended 2 of 1965 s. 4)[cf. 1876 c. 18 s. 1 U.K.] 6. Evidence as to the identity of the occupant of the corporation If any question arises as to who is or was at any time the occupant of the corporation for the time being, a certificate under the hand of the Chief Secretary for Administration shall be conclusive evidence for all purposes whatsoever as to the person who is or was the occupant.(Amended L.N. 362 of 1997) 7. Vesting of legal estate or interest in corporation in certain cases (1) Where at any time by reason of the death of any person, being a person to whom, as Chief Executive or as an officer of the Government of Hong Kong, any property of any nature whatsoever has been transferred for and on behalf of the said Government, the legal estate or any interest in such property has passed or passes on such death to the personal representative of such person, it shall be lawful for the Chief Executive at any time to declare such legal estate or interest vested in the corporation and thereupon such legal estate or interest shall vest accordingly without any conveyance, assignment or transfer.(2) In like manner where at any time the legal estate or any interest in any property of any nature whatsoever is held or possessed for and on behalf of the said Government by any person who, having held office in Hong Kong as a Chief Executive or as a Government officer, has vacated his office otherwise than by death, it shall be lawful for the Chief Executive at any time to declare such legal estate or interest vested in the corporation and thereupon such legal estate or interest shall vest accordingly without any conveyance, assignment or transfer. (Amended 25 of 1930 s. 4(7))(3) A certificate under the hand of the Chief Secretary for Administration shall be conclusive evidence for all purposes whatsoever as to the interest of the Government of Hong Kong, as to any such death or vacating of office, as to the making by the Chief Executive of any such declaration and as to the vesting of the legal estate or interest in the property therein mentioned in the corporation. (Amended L.N. 362 of 1997)(Amended 68 of 1999 s. 3)